The US Social Security Crisis is Worse than People Think

[JustAnotherGuyParticipant]

chir wrote:

Administrations are extremely limited in what they can do other than keep declaring wars at the behest of the deep state.

Declarations of War are powers of Congress. We just launch drones and blow s~~~ up. It’s totally different. </sarcasm>

Cupcakes are Cold. MGTOW is Absolute Zero.
“Let us wait a little; when your enemy is executing a false movement, never interrupt him” –Napoleon Bonaparte, 1805

[BoBParticipant 823]

Tax cuts actually mean an increase in tax revenue, however, without spending reductions in parallel, it doesn’t work. Spending is the obvious issue and comes off the backs of the middle class.

[Faust For ScienceParticipant 22521]

BoB wrote:

Tax cuts actually mean an increase in tax revenue, however, without spending reductions in parallel, it doesn’t work. Spending is the obvious issue and comes off the backs of the middle class.

Bob, no offense, but I have heard this same statement over and over again.

The comment ignores what many people have been actively ignoring. That being the ideological shift by the working class outside of the major cities, the so-called Trump supporters.

While President Trump is a capitalist, many of his supporters are not.

After forty years of bulls~~~ of save what you have and hold the line, along with insults and abuse by the rest of the world, the working U.S. population and former working class of the U.S. population are no longer conservative, nor capitalists.

Look at where the support for President Trump comes from. When President Trump suggested Mexico, someone else besides them, pay for the border wall, these U.S. citizens went crazy with support for the idea of having foreigners pay for something, for once.

Look at the support for the Trump tax-cut. This was not only tax-cut for the working class, but the cap on SALT deductions have put the financial screws to the rich and the “progressive” states in the U.S.

From comments I have read for the last several months I believe that Trump supporters are more happy about those whom have hurt them finally suffering than actually getting more money back in tax-cuts.

The American workers are no longer interested in debts or charity. They want the entire pie and have the rest of the world pay for their benefits and wealth.

In response the rest of the world accuses the American workers of being “fascists”. But, the truth is far, far worse.

They accuse the American workers of being “fascists” because they are scared of the truth. That the world has turned the American workers, whom are heavily armed, into classic workers style communists.

The American workers are not going to pay for this mess. As far as they are concerned they are the victims of the rest of the world stealing their wealth and futures. And while they have been abused, those whom abused them foolishly allowed them to arm themselves to the teeth.

All that is left is the spark or sparks to set off this firestorm.

Personally, I plan to have beer and popcorn as I enjoy the show.

[JustAnotherGuyParticipant]

Faust For Science wrote:

They accuse the American workers of being “fascists” because they are scared of the truth. That the world has turned the American workers, whom are heavily armed, into classic workers style communists.

Absolutely ridiculous. The average American worker wants to keep more of their own paycheck, therefor they are communists? I grant they aren’t pinnacles of conservatism (a decent chunk of his base voted for Obama twice), but “communist” is also the wrong C word.

Cupcakes are Cold. MGTOW is Absolute Zero.
“Let us wait a little; when your enemy is executing a false movement, never interrupt him” –Napoleon Bonaparte, 1805

[BoBParticipant 823]

Faust For Science wrote:

They accuse the American workers of being “fascists” because they are scared of the truth. That the world has turned the American workers, whom are heavily armed, into classic workers style communists.

Well, you can’t fix stupid.

[Faust For ScienceParticipant 22521]

JustAnotherGuy wrote:

The average American worker wants to keep more of their own paycheck, therefor they are communists?

The average American worker wants to take back what they believe is stolen from them by the globalists, whom the true fascists.

This is classic Karl Marx communism, not Stalism which is academic oligarchy in another name.

Classic communism is private ownership for workers, private gun ownership, traditionalism of the nuclear family, anti-feminism, anti-monopolism, globalism in that people of each nation control their individual nation, preventing technology from controlling humanity, preventing foreign organizations from enslaving the workers (this includes stopping foreign religions from enslaving the working classes), punishing those whom creating systems of control to enslave the working class such as debts, complicated laws and regulations.

I could go on, but you get the idea.

And if you claim that any given group of American workers do not agree with at least two thirds of what I listed above, your lying.

[Faust For ScienceParticipant 22521]

BoB wrote:

Faust For Science wrote:

They accuse the American workers of being “fascists” because they are scared of the truth. That the world has turned the American workers, whom are heavily armed, into classic workers style communists.

Well, you can’t fix stupid.

This is shown as the “stupid” become more threatening and violent towards the nationalist communist Trump supporters with each passing day.

[PistolPeteParticipant 27143]

Y_ wrote:

Regardless – no man should expect Social Security to work from this point on.

I take that as good news and bad news. OF the approximately 330 million people in this country roughly 140 million receive some kind of state/federal government subside or transfer payment of one kind or another. With a economic crash or mass insolvency these folks (and I’m one of them) would not continue to receive money, or the money they would receive would be worthless due to hypre-inflation. (see Venezuela) Most (but thankfully not me) of the 140 million live check to check do cutting off the funds or making them irrelevant would leave them in the dark—literally.

You guys are free to disagree if you wish but I believe that when nearly half the country gets the middle finger financially and faces REAL hardship there will be consequences in the streets. Why? because people like me have been paying into SS for 40 or more years and during that time we have had to live with a government that demands its confiscatory taxes on time every year—When it is time for us to collect our money and that same government turns around and says: “sorry too bad for you we’re broke”…holy s~~~ there is going to be hell to pay and I intend to take my pound of flesh, or several pounds out of many many IRS dicks.

[PistolPeteParticipant 27143]

I would also like to comment briefly about this Lance Roberts. I see an endless stream of financial “experts” always hawking their advice and insight etc. I have a question. If they are SO smart and SO expert how come they are still working? How come their $$$$ expertise hasn’t got them living on a 100 foot yacht somewhere?

[MarketWatcherParticipant]

PistolPete wrote:

I would also like to comment briefly about this Lance Roberts. I see an endless stream of financial “experts” always hawking their advice and insight etc. I have a question. If they are SO smart and SO expert how come they are still working? How come their $$$$ expertise hasn’t got them living on a 100 foot yacht somewhere?

Exactly Pete. I would not take diet tips from a 400 pound man. Same thing here. A little advice is good, but do your own homework.

[narwhalParticipant]

PistolPete wrote:

You guys are free to disagree if you wish but I believe that when nearly half the country gets the middle finger financially and faces REAL hardship there will be consequences in the streets. Why? because people like me have been paying into SS for 40 or more years and during that time we have had to live with a government that demands its confiscatory taxes on time every year—When it is time for us to collect our money and that same government turns around and says: “sorry too bad for you we’re broke”…holy s~~~ there is going to be hell to pay and I intend to take my pound of flesh, or several pounds out of many many IRS dicks.

That’s correct to an extent, there is also people like me who never planned on getting SS benefits, and saw it as a tax that does nothing for me, much like all the rest of my income taxes. From that regard, I have no less reason to be p~~~ed off now then I would be p~~~ed off when SS officially goes away.

I wager though, that SS won’t just disappear, it will change structure into less of a pay in system and more of an entitlement/welfare program. Those that don’t need it won’t get it. It really would be best to set and end date for the program, some 20 years into the future, allowing people to properly prepare and lessen the inevitable. However, no politician is going to take that hit.

Faust For Science wrote:

The average American worker wants to take back what they believe is stolen from them by the globalists, whom the true fascists.

I don’t think that’s true. I don’t think people want what’s stolen from them returned, they just want to stop the bleeding. They don’t want to pay taxes to fund foreign aid, entitlements, regulations and all the things the constitution never said the government should provide. It’s not even that they disagree with money spent in these areas, just that want to take back their choice in the matter.

Ok. Then do it.

[FunInTheSunParticipant 8283]

Y_ wrote:

Currently, 75.4 million Baby Boomers in America—about 26% of the U.S. population—have reached or will reach retirement age between 2011 and 2030.

75,000,000 Americans retiring. That is a scary thought. Many of them will not be paying into the Social Security/Medicare fund. We’ll have to replace them with new workers.

I think our American politicians will have to give us a sober message one day: WE’RE RUNNING OUT OF MONEY. They should’ve told us this yesterday. (At least the Libertarians won’t ignore this.) So if you’re able-bodied, it’s time to get off of welfare and get a job. And if you’re scamming worker’s compensation programs, you may get caught and end up in prison. A lot of social programs (school lunch, WIC, food stamps, Head Start, general relief) will be cut or even eliminated. And some form of taxation will occur: income taxes, sales taxes, property taxes, and tariffs.

If you can get a job, get one. If not, you’ll probably be replaced by an immigrant and left behind. Say goodbye to your American pie.

I don’t expect to get a Social Security check when I retire. I know that I’m on my own—my society doesn’t give a damn about me! There is barely enough tax revenue to cover federal government funds this year. I have a couple of retirement funds. I am planning to add more money to my 401(k) when I get my next pay raise.

"I saw that there comes a point, in the defeat of any man of virtue, when his own consent is needed for evil to win-and that no manner of injury done to him by others can succeed if he chooses to withhold his consent. I saw that I could put an end to your outrages by pronouncing a single word in my mind. I pronounced it. The word was ‘No.’" (Atlas Shrugged)

[Faust For ScienceParticipant 22521]

narwhal wrote:

I don’t think that’s true. I don’t think people want what’s stolen from them returned, they just want to stop the bleeding. They don’t want to pay taxes to fund foreign aid, entitlements, regulations and all the things the constitution never said the government should provide. It’s not even that they disagree with money spent in these areas, just that want to take back their choice in the matter.

I would have agreed with you before the reaction to the Trump tax-cut by the Trump supporters became known.

There is a undercurrent of malice by many American workers towards those whom have stolen from them and abused them for decades. They have been made to hurt and they are enjoying see how the changes in the Trump tax-cut are harming the parts of the population whom had hurt them.

[harpo-my-“SON”Participant 2410]

It is only a crisis for those who plan on retiring on welfare.
Social security contributions go directly into the
general welfare fund. US treasury.
All who work in the public sector using a social security
number are sharing one big public purse.

It is institutionalized shared poverty.

Financial independence does not come from
having a big bank account.

Financial independence comes from having a private
bank account. A bank account not connected to any
public program or number.

It is not possible to open a private bank account
using a publicly owned number.

Bankers will lie and tell you that your account is a private account. IT IS NOT.

The social security administration owns the cards and
the numbers they created and they have subject matter jurisdiction over all that they create..

Try opening a bank account without a SSN.

It can be done, but not without friction.

This is the crony nature of what the government
mistakenly calls capitalism.

No one can make more unless someone else makes less..

Everything belongs to the government and we pay for the privilege of claiming ownership of it.
If we refuse to pay then the government takes it away.

Love and respect to all

I was bound to be misunderstood, and I laugh at those who misunderstand me. Kind mockery at the well intentioned, but unfettered cruelty towards those would be prison guards of my creative possibilities. This so as to learn as much from misunderstanding as from understanding. Taking pleasure in worthy opponents and making language fluid and flowing like a river yet pointed and precise as a dagger. Contradicts the socialistic purpose of language and makes for a wonderful linguistic dance, A verbal martial art with constant parries that hone the weapon that is the two edged sword of my mouth.

[PistolPeteParticipant 27143]

I’m thinking the government might offer buy-outs from SS. Companies in deep financial trouble in the private sector do this occasionally. The government would compute exactly how much someone like myself has paid in over the years and offer a lump sum to get me off the rolls.

[PistolPeteParticipant 27143]

Faust For Science wrote:

There is a undercurrent of malice by many American workers towards those whom have stolen from them and abused them for decades.

The word “malice” doesn’t quite do justice to the depth or scope of the feelings. We want our money back from these parasites and if that takes a lot of tall trees and short ropes well I’m all in for that!

[BeerParticipant 11832]

JustAnotherGuy wrote:

The Boomers were a great thing about 40 years ago, when they were working age and supporting their elderly. The problem is, the Boomers were followed by the lowest birth rates in human history. There’s nobody propping them up, and the demographics pyramid that was bottom-heavy 50 years ago has now flipped over.

Low birth rates wouldn’t have been a problem if boomers funded their s~~~. As they retire money their generation contributed to funds during their working years should be sitting their waiting for them. This isn’t how a lot of pensions work…they basically paid minimal amounts in and rather than their pension checks eventually being drawn off a large pool of investments, their pension checks are coming from the contribution the next guy is making. Social security is much the same.

https://www.ssa.gov/OACT/ProgData/taxRates.html

So let’s just say you were a boomer starting out your career in 1970. The total effective social security/medicare tax for you(if self employed) or you and employer amounted to 6.9%. If you were a boomer starting out in 1980 it would have been an 8.1% tax.

Now let’s say you are a millennial starting out your career in 2010. The total effective social security/medicare tax for you(if self employed) or you and employer amounts to 15.3%.

I could understand tweaks made to age or minor adjustment to tax rates as life expectancy increases…but the deal my generation gets is pretty much “You get to pay twice what boomers paid when they were your age and the odds of you collecting 100% of your currently “promised” benefits are slim to none.”

narwhal wrote:

I wager though, that SS won’t just disappear, it will change structure into less of a pay in system and more of an entitlement/welfare program. Those that don’t need it won’t get it.

I always just figured if it runs out of money they’ll end up just scaling everyone’s payment to some % based on expected tax revenues for the year. If they only collect 70% of what they need to cover payments we’ll only get 70% of what they’re promising us today.

The problem with means testing is you just create a go big or go home system. If you aren’t going to be able to comfortably save some amount that will allow you to crush social security numbers, you might as well save nothing. Likewise people could just game it. For example…I might not qualify if I worked til 65 and dutifully saved 15% a year…but what would be stopping me from retiring at 55, spending my life savings down, then applying for max benefits at 72? It would almost be stupid to work longer just to lose out on “free” money.

I just think encouraging everyone to at least save something is a better system than punishing savers…social security was meant to be a part of your retirement…it was never intended to be a cushy retirement on its own.

narwhal wrote:

It really would be best to set and end date for the program, some 20 years into the future, allowing people to properly prepare and lessen the inevitable. However, no politician is going to take that hit.

There would be blood on the streets if they pulled this. What would you tell my generation if it were to end in 20 years? “Hey guys, thanks for paying into this s~~~ty retirement program for pretty much your entire working life, but we’re stopping all payments before you ever collect a dime.” That wouldn’t go over well…if they announced it today the riots would start tomorrow lol. It p~~~es me off enough being stuck in the program knowing I’ll get something out of it eventually…I can’t imagine how much more p~~~ed I’d be knowing that money would all just evaporate.

Don’t get me wrong…its a s~~~ty program and a horrible “investment”…I learned about compounding in middle school and realize SS blew ass when I had my first job at 16…but after a life time of paying into it, a lifetime of better things I could have done with that money, and a life time of being told I’d get something out of it…its not just something that can be taken away from millions without massive repercussions. They’d have to offer buyouts and future tax exemptions if they ever wanted to end it…but at this point we’re far too deep into the ponzi scheme for that to ever happen.

[JB BooksParticipant 3182]

Wish I had a nickel every time someone proclaimed that the system was about to collapse. Kinda like the guys who insist that the rapture is going to happen next week. You’re entitled to your opinion about that and some massive gubermint conspiracy out to get you, but I’m not gettin’ all worked up over it this time or that last 10,000 times.

We just don't realize life's most significant events while they're happening. Back then, I thought, "Well, there'll be other days". I didn't realize that that was the only day. - "Moonlight" Graham

[chirParticipant]

JB Books wrote:

Wish I had a nickel every time someone proclaimed that the system was about to collapse. Kinda like the guys who insist that the rapture is going to happen next week. You’re entitled to your opinion about that and some massive gubermint conspiracy out to get you, but I’m not gettin’ all worked up over it this time or that last 10,000 times.

The monetary system is not collapsing, its debasing. I have been watching this occur since the early 80’s when I had to take economics classes in college. In short we have gone from currency scarcity to currency inundation. This is due to the world banksters/globalists pushing for all countries to use fiat (backed by nothing physical currency).

In the past I would often run to the store for my mother to pick up odds and ends. A loaf of bread in the 70’s was 25 cents. Now its over 2 bucks. Content of the bread has not changed. The perceived worth of the dollar has. This is the “invisible inflation” we see all around us. Notice that portions of food are getting lighter yet the price has stayed the same? More inflation.

This inflation has forced families to have both parents work like slaves to not get ahead. My grandfather and father were able to provide enough for their children on a single income. Not any more.

Why is there such inflation? The worlds richest .01 percent families own close to 50% of the worlds net worth. They liked feudalism. We are the modern serfs working to death for them. Give them as little money as you can. Don’t become a debtor to the system they created and own.

One of our lords and master families, the Rothschilds.

It is by caffeine alone I set my mind in motion, it is by the beans of Java that thoughts acquire speed, the hands acquire shaking, the shaking becomes a warning; it is by caffeine alone I set my mind in motion.

[Gravel PitParticipant]

JustAnotherGuy wrote:

The problem is, the Boomers were followed by the lowest birth rates in human history. There’s nobody propping them up, and the demographics pyramid that was bottom-heavy 50 years ago has now flipped over.

I’m also 32, all this crap is connected, one long sad story going back at least 100 years. The social movements, the inaction, opening borders etc….

The fact alone, that birthrates are zeroed out, un-replenshing but for immigration to artificially make them look better. This is like a finger to a pulse of a species, a tell sign that something is dramtically amiss. The panic alarms should be going off.

The so-called intelligent, left leaning college generation (our peers) in their 20-40s should be out in the street demanding closing the borders, reigning in government spending/shutting down big agencies, deporting illegals and more. But instead, these so called ‘college educated’ peers of mine have their head so far up Hillary and Obamas ass…. there is no hope.

We could have turned this thing around about 15 years ago, perhaps even after the 2008 collapse but unfortunately its unstoppable train wreck in slow motion. I give it another decade or less before the cracked glass floor just falls out.

I think the Trump election proved a lot, MOST Americans really do understand. We just hope he can fix it. We’re waking up to the smell of s~~~ in the house. But we may be too late. One thing is for certain, and clear as daylight, the MSM propaganda machine (proven without a shadow of doubt to be completely unreliable, lying bastards during the 2016 election) they need to be literally dragged out into the streets and hung/guiottened etc… I’m not f~~~ing kidding, French Revolution and Africa style. Until this happens, and we clean house from the people who are perpetuating the lies, we will continue to spiral into the abyss.

[Author]

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